Evraz comments on press speculation
December 13, 2007 – Evraz Group S.A. (LSE: EVR) (“Evraz”) notes the press speculation following its announcement dated December 11, 2007 on acquisition by Evraz of majority stakes in selected production assets in Ukraine and announces the following:
At present these assets are temporarily owned by Lanebrook Limited (“Lanebrook”), Evraz’s majority shareholder, which is acting as an intermediary to facilitate the transaction with the ultimate sellers of the assets. This Evraz’s acquisition, having certain related party features, has the oversight of Evraz’s independent directors. Independent directors will be presented with a fairness opinion delivered by a reputable international appraisers’ organisation. On receiving such opinion independent directors will decide on issuance of new shares in favour of Lanebrook.
The total consideration to be paid by Evraz is expected to be in the range of US$2.0-US$2.2 billion including approximately US$1 billion in cash.
Evraz’s Board of Directors will approve the final price and the structure of the transaction in full compliance with corporate governance rules on transactions with related parties.
Evraz Group confirms it is aware of its disclosure obligations as a listed company. Further announcements will be made in due course.
For further information:
Corporate Affairs and Investor Relations
Tel: +7 495 232 1370